Foreign Minister Don: “Thailand Tops the US News’s Chart as No. 1 Best Countries to Start a Business 2020”

Foreign Minister Don Pramudwinai of Thailand welcomed that Thailand ranks No. 1 on the US News & World Report’s chart of the Best Countries to Start a Business 2020, among 73 participating countries across the globe. Thailand has continued its top place on this report for the second consecutive year since 2019. 

The 2020 Best Countries report and rankings are based on how global perceptions define countries in terms of a number of qualitative characteristics, impressions that have the potential to drive trade, travel and investment and directly affect national economies. The report covers perceptions of 73 nations and issues annually since 2016. 

The methodology for the ranking of the ‘Best Countries to Start a Business’ is calculated based on the followings:

-       Qualitative, rather than quantitative approach: taking into account the countries’ potentials to drive the economy and investment;

-       Survey of opinion, then using the inputs to group the countries into nine thematic-subrankings: (1) Adventure, (2) Citizenship, (3) Cultural Influence, (4) Entrepreneurship, (5) Heritage, (6) Movers,(7) Open for Business, (8) Power, and (9) Quality of Life; 

-       The participating countries have to satisfy four statistical requirements: GDP, Foreign Director Investment (FDI), volume and income from tourism, and UN Human Development Index. 

For full report, please visit 

https://www.usnews.com/news/best-countries/articles/methodology

https://www.matichon.co.th/foreign/news_1958173